LeoGlossary: Public Blockchain

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a year ago - 1 minutes read

A decentralized platform that can be accessed by anyone. Since it is permissionless, anyone can read or write information on it.

Once data on the blockchain is timestamped, it cannot be altered.

All transactions are validated using a consensus mechanism. The most common forms are:

Public Blockchains are more transparent than private counterparts. Each node updates the ledger, carrying the identical copy across the network.

This is vital for cryptocurrency balances to alleviate the double-spend problem.

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